Broadridge Named a Luminary in Reconciliation Systems by Celent

Rhea-AI Summary

Broadridge Financial Solutions (NYSE:BR) has been awarded the 'Luminary' designation for its BRx Match solution by the research firm Celent in its latest report on reconciliation systems.

Celent's report evaluated 18 reconciliation solution providers based on various criteria including functionality, technology, and customer base. The 'Luminary' designation is given to solutions that excel in capabilities and have a significant market presence.

BRx Match is a cloud-based platform designed to automate the reconciliation process, enhancing efficiency, transparency, and accuracy while reducing risk and cost. The platform allows business users to manage reconciliations with ease through a self-build capability.

Broadridge's recognition comes amid increasing investment in complex securities, highlighting the need for sophisticated reconciliation tools. The award underscores Broadridge's role in simplifying the front-to-back environment for its clients.

Positive

• Broadridge's BRx Match solution received the 'Luminary' designation from Celent.
• BRx Match automates the entire reconciliation process, improving efficiency, transparency, and accuracy.
• The platform reduces risk and total cost of ownership.
• Business users can design, build, test, modify, and deploy reconciliations easily with the self-build capability.

Negative

• None.

NEW YORK and LONDON and SINGAPORE, July 10, 2024 /PRNewswire/ -- Global Fintech leader Broadridge Financial Solutions, Inc. (NYSE:BR), today announced it has been awarded the highest ranking of 'Luminary' for its BRx Match solution from Celent, a leading research and advisory firm, in its latest report on reconciliation systems.

The report, Reconciliation Systems: Solutions For Capital Markets Firms, profiles eighteen reconciliation solution providers evaluated across functionality, customer bases, technology, implementation, pricing, and support. Celent defines its 'Luminary' designation as excelling in solution capabilities and for having a leading market presence.

"We are thrilled to be named as a Luminary by Celent and to be recognized for our efforts in streamlining the front to back environment for our clients," said Peter Webb, Senior Director Product Management, Broadridge. "We have simplified and optimized reconciliation operations with BRx Match, an industry leading platform that allows users to automate the reconciliation of any data sources and streamline the exception management process."

Designed to solve both complex and simple reconciliations and to put the power of an enterprise reconciliation solution into the hands of business-users, BRx Match is Broadridge's all-in-one cloud-based reconciliation platform that automates the entire reconciliation process, resulting in improved efficiency, transparency and accuracy, while reducing risk and total cost of ownership. Business users can design, build, test, modify, and deploy their own reconciliations with an easy-to-use self-build capability.

"The increasing investment in complex securities is driving the need for more sophisticated reconciliation tools," said Dayle Scher, Research Principal at Celent. "Fortunately, the emergence of modern technologies is transforming the reconciliation process and enabling capital markets firms to adopt a single solution that will meet all their needs, automating the reconciliation of any data sources and minimizing exposure to exception management delays. A huge congratulations to Broadridge for being named as a Luminary vendor in our latest report." 

About Broadridge

Broadridge Financial Solutions (NYSE: BR), a global Fintech leader with over $6 billion in revenues, provides the critical infrastructure that powers investing, corporate governance, and communications to enable better financial lives. We deliver technology-driven solutions that drive business transformation for banks, broker-dealers, asset and wealth managers and public companies. Broadridge's infrastructure serves as a global communications hub enabling corporate governance by linking thousands of public companies and mutual funds to tens of millions of individual and institutional investors around the world. Our technology and operations platforms underpin the daily trading of more than $10 trillion of equities, fixed income and other securities globally. A certified Great Place to Work^®, Broadridge is part of the S&P 500^® Index, employing over 14,000 associates in 21 countries.

For more information about us, please visit www.broadridge.com.

About Celent

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally experienced analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a division of the Oliver Wyman Group, which is a wholly-owned subsidiary of Marsh McLennan.

For more information, visit www.celent.com.

CONTACT:
Gregg Rosenberg
Gregg.Rosenberg@broadridge.com

 

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SOURCE Broadridge Financial Solutions, Inc.

FAQ

What is the latest recognition received by Broadridge (BR) for its reconciliation system?

Broadridge's BRx Match solution received the 'Luminary' designation from Celent.

Why was Broadridge (BR) awarded the 'Luminary' designation by Celent?

Broadridge was awarded the 'Luminary' designation for excelling in solution capabilities and having a leading market presence.

What are the benefits of Broadridge's BRx Match solution?

BRx Match automates the entire reconciliation process, improving efficiency, transparency, and accuracy while reducing risk and total cost of ownership.

How does BRx Match simplify reconciliation for business users?

BRx Match allows business users to easily design, build, test, modify, and deploy their own reconciliations with its self-build capability.

What was highlighted as a driving factor for sophisticated reconciliation tools in Celent's report?

The increasing investment in complex securities was highlighted as a driving factor for the need for sophisticated reconciliation tools.